With smarkets now charging 3% commission per each individual matched bet that settles ,winning bets and losing bets ,if you have earned more than £25,00 in a calender month.
Are these numbers correct?
I place a £200 back bet at 10.0 , then i place a lay bet on the same horse for £222.22 at 9.0 gving me profit of £22.22 .
The horse wins the race,
Back bet wins £200 x 10.0 = £1800 profit , smarkets takes £54 commission
Lay bet loses = £1777.78 loss, smarkets take £53.33 commission
Final profit/loss
£22.22
-£54
-£53.33
= -£85.11
So a profitable trade now becomes a loss?
smarkets 3% commission
A discussion broke out on twitter the other day and smarkets responded with a link: -
https://help.smarkets.com/hc/en-gb/arti ... ission-FAQ
https://help.smarkets.com/hc/en-gb/arti ... ission-FAQ
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- Joined: Sun Jan 31, 2010 8:06 pm
Smarkets have always been a non runner for most serious exchange players as they've always restricted access to their API. I'd guess Betfair's 2% comm deal could be a nail in the coffin for them attracting recreational punters too.
If people don't really know of Betfair then they would have no idea who Smarkets are - they claim to do well but surely they must just be betting against themselvesspreadbetting wrote: ↑Fri Dec 27, 2019 10:33 amSmarkets have always been a non runner for most serious exchange players as they've always restricted access to their API. I'd guess Betfair's 2% comm deal could be a nail in the coffin for them attracting recreational punters too.